by Melissa Pepin and Corry Frazier, co-founders of The Business Reboot
Did you know that 42% of Americans have considered starting their own business? Independence, self-sufficiency, and the drive to create something meaningful are fueling a powerful entrepreneurial movement across the country. For many, the journey begins with a side hustle — a passion project that not only supplements income but also opens the door to new possibilities.
The rise of the side hustle shows no signs of slowing down. Workers eager to earn extra cash, explore their passions, and escape traditional corporate structures are embracing side hustles at unprecedented rates. In fact, 44% of entrepreneurs who launched a business in 2023 did so while still working for another employer, a significant jump from 26% in 2022. Even more striking, 72% of Americans managing side hustles express a strong preference for self-employment, and 73% report greater happiness juggling multiple roles than sticking to one job, according to a recent Quicken survey.
With more tools, resources, and community support available than ever before, there’s never been a better time to transform your side hustle into a full-time business. Here are six key ways to know when you’re ready — and how to make the leap successfully.
1. Get Clear on What You Want and Set Practical Goals.
Before you make a major life shift, take a step back and define what you truly want. Without clarity, it’s easy to get caught in endless “what-ifs” and feel overwhelmed by both your day job and your side hustle. If you’re planning big moves — like quitting your job, relocating, or changing major relationships — do it as a solution to a problem, not as an escape.
Unresolved issues don’t magically disappear with a new title or location. So ask yourself: What matters most — time, money, impact, or connection? Prioritizing your values will give you a guiding star as you navigate this transition. Also, don’t just rely on assumptions; test your ideas. Getting real feedback from potential customers early on will minimize risks and ensure you’re solving a genuine market need.
2. Know When You’re Ready: Consistent Demand Is the Key.
The question every side hustler faces: When do I know I’m ready? The answer is simple yet powerful — you’re ready when you have an offer that people consistently pay for. A few one-off sales aren’t enough; sustainable, repeated interest signals that you have a viable business, not just a passion project.
If clients or customers are coming back for more, if your service or product is gaining traction without heavy convincing, that’s your green light.
3. Understand Your Capacity and Resources.
Transitioning from a side hustle to a full-time business isn’t about doing less work — it’s about shifting where your energy goes. Be honest about how much time, energy, and money you currently dedicate to your hustle, and how much more it will require to thrive full-time.
Entrepreneurship often demands more hours, more resilience, and more investment — especially at the beginning. Many leave their 9-to-5s expecting more freedom, only to feel crushed by the responsibility of running a business without structure. Remember: you can’t run your side hustle like a side hustle and expect full-time results. Know your capacity and build realistic plans you can actually stick to.
4. Focus on the Numbers and Analyze the Data.
It’s tempting to “just go for it” fueled by excitement, but the smartest move is to ground your leap in solid financial reality. Look at the data. Is your side hustle consistently generating enough income to replace (or at least supplement significantly) your full-time salary?
Beyond revenue, study key business metrics: product performance, client retention, customer acquisition rates, and even seasonality trends. Have you experienced a full business cycle, complete with ups and downs? Can you operate lean if needed, or is expansion necessary? A full year of financial and performance data will help you make an informed decision and avoid turning your passion into an expensive hobby.
5. Leverage Your Existing Skills.
The expertise, leadership, and skills you’ve built in your full-time job don’t disappear when you pivot — they become some of your biggest assets. Whether it’s communication, project management, marketing, or industry-specific knowledge, your previous experience gives you a unique edge.
Entrepreneurship is a constant exercise in problem-solving and adaptation. The skills you already possess can shorten your learning curve, strengthen your operations, and allow you to build a solid foundation faster than starting from scratch.
6. Be Willing to Bet on Yourself.
At the end of the day, your belief in yourself is the most important factor for success. Confidence doesn’t mean arrogance — it means trusting in your ability to figure things out. Even if the journey is tough, even if success isn’t guaranteed, betting on yourself means giving yourself a chance to grow, evolve, and build something truly your own.
Taking the leap to full-time entrepreneurship is never without risk. But every challenge you face strengthens your resilience and makes you a better business owner. Even setbacks will teach you valuable lessons that fuel your next success.
Conclusion
If you’re ready to stop dreaming and start building, now is the time. Turn your side hustle into the thriving business you’ve always imagined—and take control of your future, one intentional step at a time.
Melissa Pepin and Corry Frazier are moms, your career sidekicks, and co-founders of The Business Reboot, a business coaching hub for small business owners looking to grow, scale, and/or pivot. In addition to being Small Business Forbes Advisors,Corry and Melissa are also co-hosts of The Business Reboot Podcast